The world of mobile B2B payments is making leaps and bounds. Learn how they benefit retailers and suppliers in the food and beverage industry.
4 B2B Payment Methods to Improve Alcohol Delivery and Receiving
Here's four B2B payment methods to improve alcohol delivery and receiving in your retail stores and make everyone's jobs easier.
The delivery, receiving and payment process for beer, wine and spirits deliveries can be challenging due to the complexities of payment regulations. Even the ability for retailers to maintain correct product costs with their distributors can be difficult without proper data synchronization controls. Any discrepancies inevitably cause invoice and payment errors requiring manual reconciliation by the respective accounting departments.
It can be especially painful if trading partners are still working with out-of-date software or using paper invoices and receipts to track payments. This is because the use of cash, checks and money orders has become obsolete, and the source of great inefficiency costing both time and money.
To overcome these challenges, here's B2B payment methods retailers and distributors can use to improve alcohol delivery and receiving —making everyone's job easier.
SEE ALSO: How to Modernize Your B2B Payment System
1. Leverage More Automation
Getting products shipped to the right place can become a confused situation when payment information isn't correct in your database. Without a consolidated system, finding ways to correct the problem with your distributors could result in delayed shipping, or even stalled orders.
Much of the above could occur through too much reliance on manual payment systems. Using B2B payment methods that don't require cash, checks, or money orders for delivery of beer, wine and spirits won't result in major losses or mistakes.
Automated systems also help drivers and route managers who need to confirm information about orders without confusion. Having a single, integrated database where they can check on orders helps save them time having to call you to confirm delivery data.
2. Centralize Reconciliation
Reconciling invoices accurately is vital to ensure proper delivery and receiving. Considering you expect suppliers to provide you with appropriate inventory, what happens if you end up losing an invoice while attempting to pay them for the delivery?
The above could violate compliance with regulations on payments to suppliers, and even distributors. As a result, you could end up with stiff fines simply because you rely too heavily on data operators to keep invoices accurate.
Having reconciliation in one centralized place in the cloud enables e-invoices so you'll always know what you need to pay and get it done quickly without delays.
3. Simplified B2B Payment Receiving Methods
When you send payments to suppliers, you want them to receive them with B2B payment methods that pose no technical gaffes. You also want a platform that adheres to state and local regulations so you don't suffer the financial consequences.
At the same time, you want a centralized process that's secure and integrates well with your existing systems. Automated systems can now simplify payments so data is easy to read and doesn't create disputes about details. Not everyone on your end or the supplier end can read complex metrics, so simplified design works for everyone.
4. Pricing Synchronization
Before delivery can take place, you also need synchronization on pricing so it doesn't create contradictions on what you'll pay for inventory. Item file integration helps with this so it doesn't require having to use multiple sources to instantly find data.
This B2B payment method works the same when customers order from you so it doesn't require extra time confirming prices on the liquor you sell. Pricing audit capability allows more clarity in how you price your inventory across multiple stores to prevent endless phone calls or emails to correct errors.
Contact us here at iControl to learn about our integrated SaaS system that allows more efficient deliveries and receiving for all liquor sales.